NEW YORK CITY —Helmsley Spear has been appointed the exclusive leasing agent for 80 Broad Street, a 400,000-square-foot office building located in the Financial District neighborhood of Lower Manhattan in New York City. Lewis Cowan will head up the Helmsley Spear team, working with Gregg Slotnick, also of Helmsley Spear. Both will report to Todd Korren of Swig Equities, LLC. The 36-story, 400,000-square-foot multi-tenant office building is currently 97 percent occupied. A building wide renovation was recently completed, which included new elevators and cab interiors; new electrical service; new lobby; new mail center and freight entrance; new two-story, all glass storefront; new HVAC system and chillers; and a new fire/life safety system. In the past 12 months a number of leases were signed at 80 Broad Street including McGivney & Kluger, Legal Solutions Group, Map Financial Group, 1010Data, Stellar Freight, MT Library Services and BV Realty Management Corp. McCauley Securities renewed their leases while Water Quality Insurance Syndicate, Scientiae, LLC and Moed de Armas & Shannon Architects, P.C. expanded their occupancies, bringing total building leasing activity to more than 30,000 square feet.
HAZLET TOWNSHIP, N.J. — Short Hills, N.J.-based Garden Commercial Properties is nearing completion for renovations to Bayshore Plaza, a 163,000-square-foot, open-air retail center located at the intersection of Route 35 and Hazlet Avenue in Hazlet Township. The renovation will be capped with the opening of a new 56,000-square-foot Super Foodtown grocery store, which is scheduled for completion soon. In addition, two tenants have signed leases at the center. Pet Supplies Plus signed a 9,200-square-foot lease and Bethany Wines & Liquors signed a 4,800-square-foot lease. Current tenants at the center include Staples, Party City, McDonald’s, STS Tire & Auto Center and Childrenswear Centre.
ROSELLE, N.J. — Marcus & Millichap has brokered the sale of a six-unit apartment building located in Roselle. The property contains a mix of one-, two- and three-bedroom units. It traded at a price of $430,000. Kevin McCrann, Thomas McConnell and Nat Gambuzza of Marcus & Millichap’s New Jersey office represented the seller, a private investor. The buyer, a local investor, was represented by Christopher Rizzolo, also of Marcus & Millichap’s New Jersey office.
PEABODY, MASS. — Boston-based NAI Hunneman has arranged two office leases at 9 Centennial Drive, a two-story, 37,000-square-foot flex building located in Peabody. Family Continuity Programs signed a 5-year lease for 17,810 square feet of space. It was represented by Richard Newberg of Drumlin Group in the negotiations. Additionally, Nizhoni Health Systems signed a 4-year lease for 2,885 square feet of space. It was represented by Philip Mann of Sangan Realtors. The landlord, B&H Peabody Property LLC, was represented by NAI’s David Gilkie and Michael McCarthy in both transactions.
NEW YORK CITY —Hyatt Hotels & Resorts and Hersha Hospitality Management are set to begin construction on a 174-room Hyatt Place hotel in Brooklyn, New York City. Located in downtown Brooklyn on Nevins Street, the hotel will be just an 8-minute train ride into Manhattan and ideally located near the MetroTech Center, Williamsburg Savings Bank, Brooklyn Academy of Music, Brooklyn Botanical Gardens and South Street Seaport. Construction is slated for completion in winter 2011. In addition to the Nevins Street location, Hyatt Place has three other hotels under construction in New York on Manhattan and Long Island.
CONCORD, N.H. — CB Richard Ellis has negotiated at 45,600-square-foot short-term lease for warehouse space on behalf of Wal-Mart Stores East, LP. The leased space is located at the 192,300-square-foot Capital City Industrial Center at 77 Merrimack St. in Concord. The facility is comprised of 10,000 square feet of office space, 101,100 square feet of manufacturing space and 81,200 square feet of warehouse space. It features clear heights up to 21-feet in the warehouse, 19 tailboard docks and 2,000 amps. Situated on 21.49 acres on the banks of the Contoocook River, the facility is just 5 minutes from Exit 17 on Interstate 93. Roger Dieker and Mike Tamposi of CB Richard Ellis Manchester represented the landlord and Mike Reed of Stebbins Commercial Real Estate represented the tenant.
BLUE BELL, PA. – Beacon Commercial Real Estate has completed a long-term lease of 10,999 square feet of office space at 5 Sentry Parkway East in Blue Bell. The new tenant, Medequip International, is moving its headquarters from 6,750 square feet in Ambler, Pa. It will take the entire first floor at the new location. Dan Galbally of Beacon Commercial Real Estate represented the tenant, and John Adderly and Richard Jones represented the landlord, Mack Cali.
NORWALK, CONN. — Merritt 7 Corporate Park in Norwalk has again earned the U.S. Environmental Protection Agency’s ENERGY STAR rating for each of its six buildings. Merritt 7’s ENERGY STAR performance scores were extremely high, with ratings that ranged between 91 percent and 98 percent for each of the six buildings. Merritt 7 improved its energy performance by managing energy strategically across the entire complex and by making cost-effective improvements to its buildings. Merritt 7 is a 1.4 million-square-foot complex that is owned by Merritt 7 Venture L.L.C., a joint venture between New York State Teachers’ Retirement System (NYSTRS), and Fairfield Investors, Inc. ING Clarion Partners is an investment advisor to NYSTRS.
NEW YORK CITY — New York City-based Massey Knakal Realty Services has brokered the sale of a five-story, walk-up apartment building, located at 59 Morton St. in the Greenwich Village neighborhood of Manhattan, New York City. The property traded for $3.7 million. It totals 6,680 square feet and contains two rent-stabilized units, one rent-controlled unit, and a vacant parlor and third floor. Massey Knakal’s John Ciraulo and James Nelson negotiated the transaction between the two undisclosed parties.
LAKEWOOD, N.J. — The Sudler Companies has leased a total of 67,000 square feet located within Sudler Corporate Park, the developer’s 250-acre business park located in Lakewood. In the first transaction, Elaut USA signed a new lease for 25,000 square feet of space at 1000 Towbin Ave., a 50,000-square-foot warehouse facility. Elaut will use the space as its corporate headquarters, which will also contain a parts and service department, space for support staff and executive offices. The building is now fully occupied. Sudler’s Jeff Hale provided in-house representation for the landlord in the transaction. The tenant was represented by William Hettler, Jr. of Logistics Realty. In the second transaction, R Tape/Custom Extrusion Technologies renewed its lease for a 42,000-square-foot building located at 1650 Corporate Park West. The tenant occupies the entire facility. Hale represented both parties in lease negotiations. Sudler Corporate Park contains a total of 1.3 million square feet of light industrial, distribution and office space.